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NORAM LITHIUM CORP. (NASDAQ:NRVTF) Noram Receives Results for CVZ-75 & 76: High-Grade Intercepts of 150 Ft (45.7 M) Averaging 962 PPM, & 100 Ft (30.5 M) Averaging 1163 PPM Respectively

Directive transparence : information réglementée

02/06/2022 08:55

VANCOUVER, BC / ACCESSWIRE / June 2, 2022 / Sandy MacDougall, CEO of Noram Lithium Corp. ("Noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is pleased to announce the successful completion of CVZ-75 (PH-01) and CVZ-76 (PH-02) and release of the final assay results. The Company completed core hole CVZ-75 at a depth of 326 feet (99.4 m). Sampling for assays began at 46 ft (14.0 m) and continued to the bottom of the hole, an interval thickness of 150 ft (45.7 m) was intersected from 46 ft (14.0 m) to 196 ft (59.7 m). The hole ended in mineralization and the weighted average lithium values present are summarized below. The Company completed core hole CVZ-76 at a depth of 338 feet (103.0 m). Sampling for assays began at 26 ft (7.9 m) and continued to the bottom of the hole, an interval thickness of 100 ft (30.5 m) was intersected from 26 ft (7.9 m) to 126 ft (38.4 m). The hole ended in mineralization and the weighted average lithium values present are summarized below.

Noram Ventures Inc., Thursday, June 2, 2022, Press release pictureNoram Ventures Inc., Thursday, June 2, 2022, Press release picture

Figure 1 - Location of all past drill holes (Phase I to Phase V) previously completed in addition to the 12 proposed holes for Phase V1. Phase VI holes are indicated in purple.

Noram Ventures Inc., Thursday, June 2, 2022, Press release picture

Figure 2 - Comparative stratigraphy and assay results for drill holes CVZ-76 and CVZ-75 as compared to CVZ-63 which was drilled as part of a prior program. The histogram on the sides of the holes are the composited lithium grades in ppm Li. The cross section has a 4X vertical exaggeration.

"Holes CVZ-75 and CVZ-76 were located near the northeast end of the Phase V and Phase VI drilling. This is an area where the sediments are thinner since we are getting close to the basin margin. However, the lithium grades continue to be high. These holes are expected to continue to upgrade portions of the Zeus resource from inferred to indicated in Noram's upcoming PFS." comments Brad Peek, VP of Exploration and geologist on all six phases of Noram's Clayton Valley exploration drilling.

Hole ID

Sample No.

From (ft)

To (ft)

From (m)

To (m)

Li (ppm)

CVZ-75

1748394

46

56

14.0

17.1

1690

CVZ-75

1748395

56

66

17.1

20.1

890

CVZ-75

1748396

66

76

20.1

23.2

840

CVZ-75

1748397

76

86

23.2

26.2

910

CVZ-75

1748398

86

96

26.2

29.3

1420

CVZ-75

1748399

96

106

29.3

32.3

1160

CVZ-75

1748400

106

116

32.3

35.4

1010

CVZ-75

1748401

116

126

35.4

38.4

900

CVZ-75

1748402

126

136

38.4

41.5

870

CVZ-75

1748404

136

146

41.5

44.5

850

CVZ-75

1748405

146

156

44.5

47.5

820

CVZ-75

1748406

156

166

47.5

50.6

810

CVZ-75

1748407

166

176

50.6

53.6

620

CVZ-75

1748408

176

186

53.6

56.7

510

CVZ-75

1748409

186

196

56.7

59.7

1130

CVZ-75

1748410

196

206

59.7

62.8

800

CVZ-75

1748411

206

216

62.8

65.8

560

CVZ-75

1748412

216

226

65.8

68.9

650

CVZ-75

1748413

226

236

68.9

71.9

680

CVZ-75

1748414

236

246

71.9

75.0

510

CVZ-75

1748415

246

256

75.0

78.0

650

CVZ-75

1748416

256

266

78.0

81.1

570

CVZ-75

1748417

266

276

81.1

84.1

770

CVZ-75

1748418

276

286

84.1

87.2

570

CVZ-75

1748419

286

296

87.2

90.2

510

CVZ-75

1748420

296

306

90.2

93.3

770

CVZ-75

1748421

306

316

93.3

96.3

470

CVZ-75

1748422

316

326

96.3

99.4

600

Table 1 - Sample results from CVZ-75 from 46 ft (14.0 m) to depth of 326 ft (99.4 m).

Hole ID

Sample No.

From (ft)

To (ft)

From (m)

To (m)

Li (ppm)

CVZ-76

1748426

26

36

7.9

11.0

1320

CVZ-76

1748427

36

46

11.0

14.0

1620

CVZ-76

1748428

46

56

14.0

17.1

1620

CVZ-76

1748429

56

66

17.1

20.1

970

CVZ-76

1748430

66

76

20.1

23.2

830

CVZ-76

1748431

76

86

23.2

26.2

910

CVZ-76

1748432

86

96

26.2

29.3

1460

CVZ-76

1748433

96

106

29.3

32.3

1070

CVZ-76

1748434

106

116

32.3

35.4

930

CVZ-76

1748435

116

126

35.4

38.4

900

CVZ-76

1748436

126

136

38.4

41.5

780

CVZ-76

1748437

136

146

41.5

44.5

710

CVZ-76

1748438

146

156

44.5

47.5

670

CVZ-76

1748439

156

168

47.5

51.2

720

CVZ-76No Sample

168

178

51.2

54.3

CVZ-76

1748440

178

188

54.3

57.3

460

CVZ-76

1748441

188

198

57.3

60.4

840

CVZ-76

1748442

198

208

60.4

63.4

700

CVZ-76

1748443

208

218

63.4

66.4

740

CVZ-76

1748444

218

228

66.4

69.5

720

CVZ-76

1748445

228

238

69.5

72.5

710

CVZ-76

1748446

238

248

72.5

75.6

520

CVZ-76

1748447

248

258

75.6

78.6

680

CVZ-76

1748448

258

268

78.6

81.7

640

CVZ-76

1748449

268

278

81.7

84.7

640

CVZ-76

1748450

278

288

84.7

87.8

590

CVZ-76

1748451

288

298

87.8

90.8

590

CVZ-76

1748452

298

308

90.8

93.9

449

CVZ-76

1748453

308

318

93.9

96.9

610

CVZ-76

1748454

318

328

96.9

100.0

560

CVZ-76

1748455

328

338

100.0

103.0

470

Table 2 - Sample results from CVZ-76 from 26 ft (7.9 m) to depth of 338 ft (103.0 m).

All samples were analyzed by the ALS laboratory in Reno, Nevada. QA/QC samples were included in the sample batch and returned values that were within their expected ranges.

The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., CPG, who is a Qualified Person with respect to Noram's Clayton Valley Lithium Project as defined under National Instrument 43-101.

About Noram Lithium Corp.

Noram Lithium Corp. (TSXV:NRM | OTCQB:NRVTF | Frankfurt:N7R) is a well-financed Canadian based advanced Lithium development stage company with less than 90 million shares issued and a fully funded treasury. Noram is aggressively advancing its Zeus Lithium Project in Nevada from the development-stage level through the completion of a Pre-Feasibility Study in 2022.

The Company's flagship asset is the Zeus Lithium Project ("Zeus"), located in Clayton Valley, Nevada. The Zeus Project contains a current 43-101 measured and indicated resource estimate* of 363 million tonnes grading 923 ppm lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off. In December 2021, a robust PEA** indicated an After-Tax NPV(8) of US$1.3 Billion and IRR of 31% using US$9,500/tonne Lithium Carbonate Equivalent (LCE). Using the LCE long term forecast of US$14,000/tonne, the PEA indicates an NPV (8%) of approximately US$2.6 Billion and an IRR of 52% at US$14,000/tonne LCE.

Please visit our web site for further information: www.noramlithiumcorp.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Sandy MacDougall
Chief Executive Officer and Director
C: 778.999.2159

For additional information please contact:

Peter A. Ball
President and Chief Operating Officer
peter@noramlithiumcorp.com
C: 778.344.4653

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws. *Updated Lithium Mineral Resource Estimate, Zeus Project, Clayton Valley, Esmeralda County, Nevada, USA (August 2021) **Preliminary Economic Assessment Zeus Project, ABH Engineering (December 2021).

SOURCE: Noram Ventures Inc.



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https://www.accesswire.com/703581/Noram-Receives-Results-for-CVZ-75-76-High-Grade-Intercepts-of-150-Ft-457-M-Averaging-962-PPM-100-Ft-305-M-Averaging-1163-PPM-Respectively